Milano, Italy, September 5th, 2018 - MyBest Group (ISIN code: IT0005119109, Symbol: ALMBG) developed and operates an omnichannel platform which allows people to save on utilities bills. The company announces today the successful completion of its listing process on Euronext Growth Paris following a private placement[1] of around € 3.4 m.
- A GROUP THAT OFFERS FAMILIES AND BUSINESSES THE CHANCE TO CUT COSTS OF BILLS
Founded in 2003, MyBest Group's platform allows end-users to find the best utility solution by comparing the rates of the main national services providers, while offering to utilities providers the opportunity to benefit from an effective customer base acquisition model.
MyBest Group can rely on 15 years of successful partnership with Italian market leaders (mainly utilities providers focus on Energy and Telco such as ENI, TISCALI, MEDIASET PREMIUM, VODAFONE, etc.) in a commercially and technologically integrated manner.
The Italian switching economy market is currently worth about € 250 billion and is expected to grow in the coming years, since millions of contracts in many different segments have to completely switch to the "free market" and also to the increasing competition in the Telco sector due to entrance of new low-cost players such as ILIAD, ho Mobile and KENA MOBILE etc...
MyBest Group distribution platform has allowed to generate relevant results despite controlled marketing investments. In FY2017, Group's revenues were above € 25 m with c. 257 thousand contracts activated.
The Group presents a revenue model based on a success fee component (token) upon contract activation combined to a yearly recurrent fee until contract expiration.
- MyBest Group listing on Euronext Growth
Thanks to the listing on Euronext Growth Paris that follows a private placement, MyBest Group will i) strengthen its capital structure in the context of futures financial operations to initiate; ii) increase its visibility on the market and iii) speed its internationalization process.
The last capital increase was closed on 26 July 2018 and amounted to c. € 2.5 m raised among several investors. In the meantime, two bonds loans issued in 2015 and 2017 were converted to firstly increase the free float, and secondly strengthen the company's shareholder equity.
The € 2 m bonds issued in 2015 were converted with a 30% discount on the listing price and a 12-month "lock-up".
The € 3 m bonds issued in 2017 were converted with a 15% discount on the listing price and without any "lock-up".
The free float on the day of the listing represents c. 37%.
MyBest Group's listing, (ISIN code: IT0005119109, Symbol: ALMBG) will be realized following the admission to trading, on September 10th, 2018 of 6 668 619 shares compounding the company's share capital.
Based on a price per share of € 5.07, the company's market capitalization is 33,8 million Euros.
"By joining Euronext Growth Paris, MyBest Group will improve its visibility and multiply the possibilities to develop its business and allow Italian customers to switch their utilities providers taking advantage of the upcoming market liberalization" commented Fabio Regolo, Chairman & Chief Executive Officer of the Company.
For more information on MyBest Group, please visit: https://www.mybestgroup.it/
Document d'Information is available free of charge on MyBest Group and on Euronext websites.
Scheduled date for the first publication of earnings figures (H1 2018): 1st of October 2018
Contacts:
| MyBest Group S.p.A | Atout Capital, Listing Sponsor |
| Fabio Regolo, CEO & Charmain | Cédric Beudin, Managing Partner |
| Tel: +39 022413441 | Tel: +33 1 56 69 61 83 |
| Mail: fabio.regolo@mybestgroup.it | Mail: cedric.beudin@atoutcapital.com |
| Website: https://www.mybestgroup.it/ | Website: http://www.atoutcapital.com/ |
